New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-05-09
THE PETROLEUM MARKET

NEWS FROM THE FIELD AND RANGE OF PRICES
In no important essential the features Of the petroleum
situation changed last week The refined market remains
enjoying steadily moving business Of proportions sstlsac
tory unusual aud the advance mado IN tho previous
the OF crude Ia well hold In sharp contrast
with the closing days OF last month"; May opens with heavy
increase IN pipe no deliveries seeming to bear out entirely
the tho uncertainty Ot respecting the fate OF the
nngey legislation Ia pennsyva checked purchases by
re1ners April The amounted 10 274 465 barrels for
the days OF May daily average Of 81 1874 barrels
ON the deliveries have been 1852 1875 Barrels
daily barrels or within about 5000 barrels
IL highest daily average yet reached this The
osss Of deliveries runs carried tho scale
through tho aonth will reduce stocks from 100000 TO
500 barrol The from tho Pennsylvania oil fields
general character IL has been OF late. The
gauge Washington district ast Saturday 1928
barrels wells average Of 40 23 barrels against
1888 barrels from 179 wells or forty bar
els pr we'll tho previous No important developments
in the OHIO dsds the reckless du producer is s
answering c;h bed. q the larry .dT that Is only being
heavy the price down and tho producer abuses
bHcSegs Pipe Line rosssd the prizes Ohio III cent,
esns In tho early days Of these eds tho Price paid was
IS But since that prize was ruling tho experiments
orally believed failures aud tho consumers naturally refuse
The :oS1sS s S 20 S sA QUO c sd R59aaSd
and The 9'S,, % os Un nhha o I0URGT
draw distant relative IN OHIO after IL In Introducing
f T&e Oh citv B,rries rsmarIs.
appended figures Tell the whole story why Lima oil
we're Gis9 barrels DAY the average shipments Tor
month only 27l223; leaving small margin OF dlt
ieroace 10 go stocks mere pance
barrels Almost enough aud above
sumption tanks of 5000 barrels capacity month
and Inc lima producer nnocenty occasional
entity direction But there four pipe lines 10 the
VAS OF greater merit than the present prices seem
Indicate OF the four onEhl 70 be able to make he ds
handsome that usually falls TO the lot Of the public
There we're % wells finished Ohio holds month
on May wcry p3 wells drilling and ~ riEs up and
buildag The Derrick very sensby saysl THE incl prop
critics OF Lima oil ate unsxosed The buckeye line is
time pans 70 Introduce IT, II the
oier lines will do much aud the producer meantime
will he upward, and that At no distant day"
Tho crude certificate speculation last week gave general
the volume sauk t0rgtd tho end and tho nnux
operators not up 10 the expectations OF many
sequel spirited movement and advance In e preceding
The stimulus To buying caused by inc defeat OF the
Bugsey bill OF course had Us nt OF enoct anu ne market
cal ed after weeks Of depression and discourage
nen 20 digest gre deal OF long oil s0d BY both investors
SPECTATORS Under tho circumstances the conduct OF the
far from unsasiacOfy me reaction In prices
from the closing April 80 only cent and from the
top point reached the rise only SIS cents As rule prices
firm SO and twice spurs 70 within less than
can't. Of Tie ion sure wero Tie result covering Of
shorts The chief Characteristic Of the speculation It's
steadness rcaIatons and hammcrng The extreme
above the lowest AMI only = cent under the
highest price Of the week and = cent above tho opening
rather beas feeling among traders But unless interrupted
by some new development tho indications point 20 better
range OF values commercial grounds should these persist
for activity long Carrying rates have ruled
through the week, discouraging the
short interest Inc market closed quiet but
steady.
eertidcaes sodatei and Petroleum
l. fnr The last